Fox Factory Holding Corp. (NASDAQ:FOXF) Given Average Recommendation of “Moderate Buy” by Brokerages

Fox Factory Holding Corp. (NASDAQ:FOXF) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

Several research analysts have recently issued reports on the company. Zacks Research raised Fox Factory from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Fox Advisors set a $20.00 target price on Fox Factory in a research report on Tuesday, June 30th. Needham & Company LLC restated a “buy” rating on shares of Fox Factory in a research note on Wednesday, June 3rd. Bank of America downgraded Fox Factory from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $24.00 to $20.00 in a report on Tuesday, June 30th. Finally, Roth Capital reiterated a “neutral” rating and issued a $20.00 price target on shares of Fox Factory in a research note on Friday, May 8th.

Institutional Trading of Fox Factory

Several institutional investors and hedge funds have recently made changes to their positions in FOXF. Engineers Gate Manager LP lifted its stake in Fox Factory by 1.1% in the fourth quarter. Engineers Gate Manager LP now owns 73,895 shares of the company’s stock valued at $1,264,000 after buying an additional 770 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Fox Factory by 12.3% in the second quarter. Russell Investments Group Ltd. now owns 7,818 shares of the company’s stock valued at $203,000 after acquiring an additional 858 shares during the period. Resona Asset Management Co. Ltd. grew its position in shares of Fox Factory by 33.3% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 4,142 shares of the company’s stock worth $73,000 after acquiring an additional 1,035 shares during the last quarter. Creative Planning grew its position in shares of Fox Factory by 11.6% during the third quarter. Creative Planning now owns 9,971 shares of the company’s stock worth $242,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Fox Factory by 108.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after acquiring an additional 1,079 shares during the period.

Fox Factory Price Performance

NASDAQ:FOXF opened at $21.52 on Monday. The stock’s fifty day moving average is $19.28 and its two-hundred day moving average is $18.06. Fox Factory has a 52 week low of $13.08 and a 52 week high of $29.97. The company has a quick ratio of 1.55, a current ratio of 3.10 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $904.49 million, a P/E ratio of -3.01, a P/E/G ratio of 0.59 and a beta of 1.38.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. Fox Factory had a negative net margin of 20.39% and a positive return on equity of 5.57%. The business had revenue of $358.12 million during the quarter, compared to analyst estimates of $352.94 million. During the same quarter last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities analysts expect that Fox Factory will post 1.55 EPS for the current year.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.